LONDON--(BUSINESS WIRE)--#ICT--Technavio market research analysts forecast the IT market in South East Asia to grow at a CAGR of more than 6% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the IT market in South East Asia for 2017-2021. The IT spending market in South East Asia is broadly classified into hardware, software, and services based on product segmentation. Hardware includes cellphones including smartphones, computers, tablets, and printers. Software includes enterprise application software and infrastructure software. Services include IT support services and business IT services.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the IT market in South East Asia:
- Increased adoption of mobility solution in South East Asia
- Rise of IoT solutions
- Proliferation of data
Increased adoption of mobility solutions in South East Asia
Mobility is touching every aspect of government operations such as data collection using mobile devices, wireless networks, and unified communication. Mobility enables e-government initiatives to be successful in tier II/tier III cities and in rural areas that lack IT infrastructure and Internet access. Therefore, for an uninterrupted data sharing process, mobility plays a crucial role.
“The unprecedented growth in the smartphone market has led to an increase in the number of mobile apps users. Mobile application developers require IT services, such as back-end-as-a-service and the web integrated development environment solutions for innovative mobile application development solutions,” says Ishmeet Kaur, a lead analyst at Technavio for IT spending research.
Growing urbanization is expected to drive mobility growth in Indonesia and Malaysia. IT services and software development centers are highly required with the increasing mobility associated with urbanization. Some of the IT services, which will boom in urban regions and which require mobility include online food ordering, online taxi booking, online stores, online rental house searching applications, and online event booking applications
Rise of IoT solutions
IoT is a network of physical, tangible objects that are interconnected through technology and can communicate among themselves and with the internal or external environment. It connects hardware devices, embedded software, communication services, and IT services. It creates smart communication environments such as smart homes, smart shopping, smart transportation, and smart healthcare. Smart machines can monitor and control various objects using microcontrollers via the Internet from a remote location with the help of IoT.
“IoT is an enabler of IT services as smart connected devices require IT support services for M2M communication. IT support services help to build end-to-end IoT infrastructure for smart communities, smart healthcare, smart home, and smart transportation system,” says Ishmeet.
Proliferation of data
An enormous amount of data is being generated through numerous sources such as the Internet, mobile devices, and social media. With the increasing volume, variety, and velocity of data, commonly known as 3Vs, organizations are facing challenges to analyze and manage the large databases efficiently. Also, veracity, the fourth component of big data management systems, eliminates the amount of data that is irrelevant and can cause a significant amount of cost for the organizations.
With the advent of big data analytics technology, organizations can transform unstructured and semi-structured data into structured and meaningful data. The key is to get the accurate data at the right time for useful decision-making in businesses.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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